In a period where budgets are extremely tight and layoffs are being made, many companies find it difficult to justify assigning resources to innovation.
The Hispack 2024 report points out that, although the challenge of sustainability is not new, it is more of a priority for companies because of regulatory changes and the greater awareness of consumers who demand more environmentally friendly packaging.
When a non-packaging-related news outlet makes 34 bold predictions for 2024 and two of them relate to packaging, it’s a sure sign of packaging’s importance in the global economy and in environmental efforts.
I recently stumbled across an article on LinkedIn News titled, “34 Big Ideas that will change our world in 2024.” Even before reading the article, I thought, “I bet at least one of these 34 Big Ideas pertains to packaging.” I was right.
Despite the challenges, the combined revenue of the food and beverage market this year was $435.3 billion and is expected to grow to a staggering $857B by 2025.*
2020 was a year like no other. Yet despite the challenges brought on by the pandemic, most top food and beverage brands remained stable. In fact, the food and beverage industry is one of the only consumer product sectors to grow in the year.
Costco has unique requirements when it comes to packaging. Michael Carrier, Director of Package Development at Berkley International shares what brand owners need to know to get into the club.